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Mar 19, 2013
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low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. ♪ [ male announcer ] it was designed to escape the ordinary. it feels like it can escape gravity. ♪
low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. ♪ [ male announcer ] it was designed to escape the ordinary. it feels like it can escape gravity. ♪
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Mar 18, 2013
03/13
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you can tax depositors or you could tax the entire country. which would have spread the pain among tax payers. they started to spike on the fear that this could lead to a contagion. we haven't seen bank lines in italy or spain, which was the fear. it certainly raised a lot of concerns. >> let's also bring in steve leaseman and rick santelli for more reaction. why don't you start off with your views with what you're hearing from people there when you're looking attic movements. what really jumps out to you? >> i'll tell you what, and i am totally serious about this. when i walked in, this is a little earlier than our regular time. people are walking around, taking care of issues from friday. people have come up and said i understand this is a little island with a gdp that's in fan tess mal. i'll tell you what, i'm kind of shocked that it made that jump. i understand that at a time where computerization allows every government on the planet to track and have say complete financial audit trail of everything anybody has, whether it's in this count
you can tax depositors or you could tax the entire country. which would have spread the pain among tax payers. they started to spike on the fear that this could lead to a contagion. we haven't seen bank lines in italy or spain, which was the fear. it certainly raised a lot of concerns. >> let's also bring in steve leaseman and rick santelli for more reaction. why don't you start off with your views with what you're hearing from people there when you're looking attic movements. what really...
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Mar 13, 2013
03/13
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we were looking at the head winds that the consumer was facing which was delay tax refunds. higher gasoline prices, poor weather conditions and, of course, the lagged impact of higher tax in january. we were looking for a weak report and we were surprised by it. whenever you look at the seasonally adjusted versus the not seasonally adjusted, maybe we'll get a revision. but i think to me what it tells us is something a bit more fundamental about the consumer which is the tail winds are maybe a little stronger than we had thought, which is healthier laboring because job growth has done better. wealth appreciation which is helping to boost consumer confidence. the consumer's still in a challenging place, but receiving some cushion from the labor market. >> how can economists be so far off, michelle, then you get a number like this today and two major houses go from 1.5% to 2.5% gdp. this kind of blows my mind. were we that far from the mark? >> we're one of those houses. >> okay. >> i didn't name names. >> no, it's okay. >> a lot of people did this and you weren't alone. >> deu
we were looking at the head winds that the consumer was facing which was delay tax refunds. higher gasoline prices, poor weather conditions and, of course, the lagged impact of higher tax in january. we were looking for a weak report and we were surprised by it. whenever you look at the seasonally adjusted versus the not seasonally adjusted, maybe we'll get a revision. but i think to me what it tells us is something a bit more fundamental about the consumer which is the tail winds are maybe a...
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Mar 14, 2013
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low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. (announcer) at scottrade, our cexactly how they want.t with scottrade's online banking, i get one view of my bank and brokerage accounts with one login... to easily move my money when i need to. plus, when i call my local scottrade office, i can talk to someone who knows how i trade. because i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade. awarded five-stars from smartmoney magazine. how did i know? well, i didn't really. see, i figured low testosterone would decrease my sex drive... but when i started losing energy and became moody... that's when i had an honest conversation with my doctor. we discussed all the symptoms... then he gave me some
low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. (announcer) at scottrade, our cexactly how they want.t with scottrade's online banking, i get one view of my bank and brokerage accounts with one login... to easily...
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Mar 13, 2013
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november, december and then come january payroll taxes, et cetera. we believe the pullback will come. for us it's more of an opportunity longer term. things are in place when you look at balance sheets and you look at overall companies, you look at growth rates and companies are going to grow now. topline growth companies who have restructured looking globally. whether today or the next couple months, the market is at a high. valuations at 14 times earnings. you have to dig down. it's not buying the market today. it's buying specific sectors and stocks within it. >> waiting for the pullback is -- when is it going to happen? when it does, how significant is it going to be? >> our view is -- >> sound like you don't think it will be big. >> even if it is, if you look at the charts and you look over the last five or ten years, people who have made money if they stayed invested. today you go back ten years and you have 10% annual return. you can do that. the question is if you listen to too many talking heads and they say now is a time to pull back and wa
november, december and then come january payroll taxes, et cetera. we believe the pullback will come. for us it's more of an opportunity longer term. things are in place when you look at balance sheets and you look at overall companies, you look at growth rates and companies are going to grow now. topline growth companies who have restructured looking globally. whether today or the next couple months, the market is at a high. valuations at 14 times earnings. you have to dig down. it's not...
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Mar 14, 2013
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low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. no they don't. hey son. have fun tonight. ♪ ♪ back against the wall ♪ ain't nothin to me ♪ ain't nothin to me [ crowd murmurs ] hey! ♪ [ howls ] ♪ let's say you pay your guy around 2% to manage your money. that's not much you think. except it's 2% every year. does that make a difference? search "cost of financial advisors" ouch. over time it really adds up. then go to e-trade and find out how much our advice costs. spoiler alert: it's low. really? yes, really. e-trade offers investment advice and guidance from dedicated, professional financial consultants. it's guidance on your terms, not ours. that's how our system works. e-trade. less for us. more for you. a talking car.
low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. no they don't. hey son. have fun tonight. ♪ ♪ back against the wall ♪ ain't nothin to me ♪ ain't nothin to me [ crowd murmurs ] hey! ♪ [ howls ] ♪ let's...
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Mar 15, 2013
03/13
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you know, a tax is a gambling license. i know it is half a million dollars to get a license in nevada. is that as the barrier to entry? >> we don't think it is a steel barrier to entry. what that is is for the resort casino that obtains the license. the other entities that command don't have to pay that. so the only fees that have to be paid by the operators, the casino resort and then the manufacturers or distributors which is a little bit less, that's it right now. our tax remains just as it is for land-baseddcasinos, six and three-quarters percent. melissa: do you think it would make sense to make that even lower to give more people into the game? at least a first? >> well, we have a significant amount of market entrance right now. we have done over 13 licenses for the major operators, and those are the major players. i think what we have seen come anyone and everyone who will come into the market as far as the dtb your beach uc provider and operator. melissa: so would you say the people of getting involved? what is the
you know, a tax is a gambling license. i know it is half a million dollars to get a license in nevada. is that as the barrier to entry? >> we don't think it is a steel barrier to entry. what that is is for the resort casino that obtains the license. the other entities that command don't have to pay that. so the only fees that have to be paid by the operators, the casino resort and then the manufacturers or distributors which is a little bit less, that's it right now. our tax remains just...
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Mar 20, 2013
03/13
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low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. ♪ melissa: so we heard the "money" power panel. want to bring in somebody who knows a thing to about big business in this economy. the ceo of landreau stock company that includes the dining entertainment, gaming, and hospitality sectors. he is an industry titan, and he is here with me now. great to have you back on the show. you are reopening one of your restaurants. you are clearly expanding. you must have some confidence and was going on. >> we continne to grow. gaming, hospitality, restaurants . i do have confidence in our great american capitalism economy. at the same time, it is not backward was a few years ago. we live in a great economy. as you can see, restaurants are busy, h
low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. ♪ melissa: so we heard the "money" power panel. want to bring in somebody who knows a thing to about big business in this economy. the ceo of landreau...
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Mar 15, 2013
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low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. tdd#: 1-800-345-2550 seems like etfs are everywhere these days. tdd#: 1-800-345-2550 but there is one source with a wealth of etf knowledge tdd#: 1-800-345-2550 all in one place. tdd#: 1-800-345-2550 introducing schwab etf onesource™. tdd#: 1-800-345-2550 it's one source with the most commission-free etfs. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 one source with etfs from leading providers tdd#: 1-800-345-2550 and extensive coverage of major asset classes... tdd#: 1-800-345-2550 all brought to you by one firm tdd#: 1-800-345-2550 with comprehensive education, tools and personal guidance tdd#: 1-800-345-2550 to help you find etfs that may be right for you. tdd#: 1-800-345-2550 schwab
low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. tdd#: 1-800-345-2550 seems like etfs are everywhere these days. tdd#: 1-800-345-2550 but there is one source with a wealth of etf knowledge tdd#: 1-800-345-2550 all...
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Mar 21, 2013
03/13
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low cost and tax efficient. find out why nine out of ten large professional invtors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks,harges and expenses. . ... m. . ... . .. [ indistinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all onhinkorswim from td ameritrade. ♪ cheryl: a down day for everyone. all the major averages all on track at this point to finish the week in the red. first to the dow. it is on track for its first down week in five weeks of trading. then the s&p 500 is on track to snap a three-week winning
low cost and tax efficient. find out why nine out of ten large professional invtors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks,harges and expenses. . ... m. . ... . .. [ indistinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain...
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Mar 14, 2013
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there is a distinction between tax avoidance and tax evasion. most of the federal employees, was looking at the numbers, they did file their tax return. they are not trying to evade taxes. so, you know, sometimes there is an honest disagreement, which was the case. so let's be a little bit careful melissa: to me, it always shows me how disorganize the government is. the largest group of workers were from the post office. there were not up-to-date on their taxes. wondering, while one hand as panama can't the other hand, and and garnish their wages, even a little bit to pay the taxes? >> and this is a top down problem. we have a treasury secretary you had back taxes as well and no one seems to be very concerned about. this is a big issue that does not just extends to a certain group of federal workers. i think the interesting thing is that federal employees are by and large paid much more than their private-sector counterparts. the question is to wire we seeing the taxes owed to the government coming back in? think you're right. a lot of abuse of
there is a distinction between tax avoidance and tax evasion. most of the federal employees, was looking at the numbers, they did file their tax return. they are not trying to evade taxes. so, you know, sometimes there is an honest disagreement, which was the case. so let's be a little bit careful melissa: to me, it always shows me how disorganize the government is. the largest group of workers were from the post office. there were not up-to-date on their taxes. wondering, while one hand as...
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Mar 18, 2013
03/13
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low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk inclus possible loss of principal. ...amea... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. you are gonna need a wingman. and my cash back keeps the party going. but my airline miles take it worldwide. [ male announcer ] it shouldn't be this hard. with creditcards.com, it's easy to search hundreds of cards and apply online. creditcards.com. that was the only thing left of the house. the only thing. red cross helped us and t
low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk inclus possible loss of principal. ...amea... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta...
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Mar 21, 2013
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the cuts and tax credits elsewhere. getting government spending down was necessary. the tax rise was necessary. but without growth, it can't work. and it's that lack of growth which has choked off this recovery and its deficit reduction plan. he did nothing yesterday. it was just more of the same. and i think around the world people will look tech uk and say if you wanted to know whether in a country even with a floating exchange rate could cut spending as a root to growth, they used to call it expansionary fiscal contraction. dead in the water. >> chancellor, thanks very much for joining us. kelly, back to you. >> great stuff there. and it's good to see you even if it's all the way across the city. coming up, when the the fed stop easing? deutsche bank's top economists think it could be by tend of the year. we'll put some questions to him when we come back. [ female announcer ] what if the next big thing, isn't a thing at all? it's lots of things. all waking up. connecting to the global phenomenon we call the internet
the cuts and tax credits elsewhere. getting government spending down was necessary. the tax rise was necessary. but without growth, it can't work. and it's that lack of growth which has choked off this recovery and its deficit reduction plan. he did nothing yesterday. it was just more of the same. and i think around the world people will look tech uk and say if you wanted to know whether in a country even with a floating exchange rate could cut spending as a root to growth, they used to call it...
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Mar 18, 2013
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those above the threshold pay 9.9% tax. the total revenue raised is expected to hold just shy of 6 billion euros. the rescue package is slated to begin today around 1500 cet. in the meantime, we're getting comment out of russia. seen as perhaps the targeted party here, i should say, with regard to some of the deposit taxes that are being pushed through on cipriot banks. for example, putin via spokesman has apparently called the levy, if approved, unfair, unprofessional and dangerous. european markets are in the red across the board as we've seen today. the ftse 100 down almost 1% and the xetra dax better than 1%. the ibex 35 is down 2%, roughly the same amount for the ftse mib. we can tell you that spanish and italian bonds have risen both on banks and for some of the periphery, showing pressure, as well. here is a look at some european banks. a mix there. on the left, you can see spain. banco santander down almost 4% some some cases. unicredit down almost 5%. moving to the french banks, credit agricole and bnp are showing
those above the threshold pay 9.9% tax. the total revenue raised is expected to hold just shy of 6 billion euros. the rescue package is slated to begin today around 1500 cet. in the meantime, we're getting comment out of russia. seen as perhaps the targeted party here, i should say, with regard to some of the deposit taxes that are being pushed through on cipriot banks. for example, putin via spokesman has apparently called the levy, if approved, unfair, unprofessional and dangerous. european...
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Mar 19, 2013
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twhos depositests less than 100,000 euros could be spared the new bill taxes. >>> and u.s. investors get another check on the housing sector with new construction permits due later today. >>> reuters is now telling us that cyprus has reviewed a draft cypriot bill. it includes a levy spares thog those accounts of less than 20,000 euros from a tax in cypress. it would levy 6.5% on those between 20,000 and the 120,000 euros. it's waiting to see whether there would be additional levies on the counts of above 250,000 euros. i'm not sure if the math adds up to what cyprus needs to contribute so it would agree with european lenders. what's interesting about this is 6.75%, again, roughly consistent with what we were hearing prior to the fact that the international community wanted smaller deposit holders to be spared. those under 20,000 euros would be. but those between 120,000 paying 6.75% and crucially we know cypress didn't want this double digit tax increase on bigger accounts, this would keep the levy at 9.9% for deposits above 100,000 euros. potentially some pressure from the
twhos depositests less than 100,000 euros could be spared the new bill taxes. >>> and u.s. investors get another check on the housing sector with new construction permits due later today. >>> reuters is now telling us that cyprus has reviewed a draft cypriot bill. it includes a levy spares thog those accounts of less than 20,000 euros from a tax in cypress. it would levy 6.5% on those between 20,000 and the 120,000 euros. it's waiting to see whether there would be additional...
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Mar 18, 2013
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streets stung and rallied on a surprise move to tax bank deposits in the small island country? is this the start of a pullback many warned about? our traders this hour. stephanie, what do you think? how are you trading today? >> it depends if this spreads to other countries, that's the big thing. right now, it looks like it's contained. i focus going to areas of the world strong and the u.s. is still strong. housing continues to recover. manufacturing, got good numbers the best since 2011. consumer remains resilient. last friday we got the stress test from the banks. that was pretty impressive. i think those stocks could be poised to pull back, just because they've had such a nice run, those are the areas you want to focus. i also focus on replacement cycle stories, trucks, ah toes, aerospace, rigs. i think there are places you want to buy on weakness and the u.s. is where you want to be. >> mr. new world, are you as sang gin? >> i don't think so. let me go back to last night and what i tweeted out and how you handle this market right now. it is not a binary call you say i will
streets stung and rallied on a surprise move to tax bank deposits in the small island country? is this the start of a pullback many warned about? our traders this hour. stephanie, what do you think? how are you trading today? >> it depends if this spreads to other countries, that's the big thing. right now, it looks like it's contained. i focus going to areas of the world strong and the u.s. is still strong. housing continues to recover. manufacturing, got good numbers the best since...
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Mar 15, 2013
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low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, sks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. cheryl: our power mover of the hour is sony. shares of the electronics company up as you can see, well, you could see it a moment ago. trust me, will you go. it's up more than 7.5%. i might have done that. sony is surging after its rating was raised from buy to neutral saying the company could turn profitable in fiscal 2014 due to
low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, sks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind......
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Mar 21, 2013
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is a tax is a tax. if you tax something more, you get less of it. piling on new taxes is always bad for economic growth period. and yet out of washington comes yet another proposal for another tax. this one known as the marketplace fairness act but it is just a national internet sales tax. could even hit your itunes downloads later on. last night here on "the kudlow report," republican senator kelly ayotte spoke out against this bill. take a listen. >> i think we need to rename this legislative proposal for what it is because what it is is it's the internet tax collection act. for those who believe that this is some kind of conservative bill, this isn't my idea of conservative. this is not about small government, this is about forcing businesses in states like mine with no sales tax to become the tax collectors for the nation. >> there you go. well said, senator. i say this is a big government, unprecedented power grab. it's paving the way, by the way, to a national sales tax. i truly believe that. but
is a tax is a tax. if you tax something more, you get less of it. piling on new taxes is always bad for economic growth period. and yet out of washington comes yet another proposal for another tax. this one known as the marketplace fairness act but it is just a national internet sales tax. could even hit your itunes downloads later on. last night here on "the kudlow report," republican senator kelly ayotte spoke out against this bill. take a listen. >> i think we need to rename...
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Mar 19, 2013
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no word yet on anybody voting for this new bank tax. but as bertha said, the situation inside cyprus very fluid. >> in the meantime, gold catching a bid there and you've got the euro pushing further to the downside. >> the problem is, with flight to safety, america's airports stink. so it's going to get harder. >> we may need a hearing on america's crumbling roads and bridges because a new report gives our infrastructure a d plus. it may not be an f but it sure isn't good. if that doesn't worry you, maybe this will. there are more than 67,000 bridges. classified as structurally deficient in america. pennsylvania governor ed rendell is here with us now. governor, another disturbing report from the asce. how do we do something about this? >> well, it's interesting, the last report was 2009 and the infrastructure got a d there. it went up to d plus based on some investments, the federal stimulus investments, some things that states have done, few things like rail jumped from a c minus to a c plus because of the joint program. so there were
no word yet on anybody voting for this new bank tax. but as bertha said, the situation inside cyprus very fluid. >> in the meantime, gold catching a bid there and you've got the euro pushing further to the downside. >> the problem is, with flight to safety, america's airports stink. so it's going to get harder. >> we may need a hearing on america's crumbling roads and bridges because a new report gives our infrastructure a d plus. it may not be an f but it sure isn't good. if...
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Mar 18, 2013
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that's much higher than the russian corporate tax and the cyprus corporation tax. what happens then? >> larry, it's a bigger issue than that. because it's all about transparency. if the european central bank gets its hands on records in the republic of cyprus, all these little stories and hidden basic constructs will all become transparent. it's all about uncovering billions of dollars in dirty money. >> how will they do that? what i'm asking is, haven't the banks shielded the russians from all this? russian parks goods there. they send them off to iran and syria and other rogue states. money has never been a problem. cyprus has never reported them. why start now? >> they are going to be under a lot of pressure. they'll be under the ecb gun and have to clean up their act. as an absolute spin-off from that, they are going to have to be more transparent. it's going to happen. they can't do that. cyprus is their last vestage of offshore financial centers. they are all signing contracts with the u.s. and uk and germany. the only alternative they have to go all the way
that's much higher than the russian corporate tax and the cyprus corporation tax. what happens then? >> larry, it's a bigger issue than that. because it's all about transparency. if the european central bank gets its hands on records in the republic of cyprus, all these little stories and hidden basic constructs will all become transparent. it's all about uncovering billions of dollars in dirty money. >> how will they do that? what i'm asking is, haven't the banks shielded the...
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Mar 13, 2013
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no tax increases. meanwhile the president is meeting behind closing doors now as part of iz his effort to sel his proposal. his own is not coming out until april 8. that is less the point at this stage. all sides are looking at the regular order process as the last potential hope for a grand bargain mixing entitlement cuts and tax increases for this two year congress. mandy? >> thank you very much for that. and in the meantime we will be watching for speaker john boehner later on in the show. we will toss it over to you in vegas and your very special guest. >> thank you very much. we are pleased to be joined by martha stewart, who needs no introduction but i will give one anyway. thank you very much for joining us here. before i get into retail sales, i will ask about the trial. >> the judge has ordered all parties to mediate. we are working with a mediator right now and we have until april 8th to hopefully come up with a satisfactory solution to this contractual problem. >> i understand there is smoke
no tax increases. meanwhile the president is meeting behind closing doors now as part of iz his effort to sel his proposal. his own is not coming out until april 8. that is less the point at this stage. all sides are looking at the regular order process as the last potential hope for a grand bargain mixing entitlement cuts and tax increases for this two year congress. mandy? >> thank you very much for that. and in the meantime we will be watching for speaker john boehner later on in the...
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Mar 18, 2013
03/13
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the new tax on deposits, let's call it what it is, a wealth tax, has americans worrying about other tax havens. more than $20 trillion held around the world in offshore havens. their favorite tax havens are in the caribbean. namely the cayman islands, bahamas, british virgin islands. globally the channel islands, monaco, switzerland and swing pore. caribbean countries in much better financial shape and more stable legal systems than cyprus. the capital structure of some of these offshore banks remains a mystery. governments in the tiny island nations are notoriously prone to corruption and sudden policy shift. many say cyprus isn't likely to repeat soon. the crisis is another reason offshoring may become more risky for the world's wealthy. >> thank you so much, robert frank. >>> i'll talk exclusively with john thain next. >>> the potential for europe crisis to spread here. >>> later, march madness is here. should you keep your portfolio on the bench during the tournament? stay with us. but we can still help you see your big picture. with the fidelity guided portfolio summary, you choose
the new tax on deposits, let's call it what it is, a wealth tax, has americans worrying about other tax havens. more than $20 trillion held around the world in offshore havens. their favorite tax havens are in the caribbean. namely the cayman islands, bahamas, british virgin islands. globally the channel islands, monaco, switzerland and swing pore. caribbean countries in much better financial shape and more stable legal systems than cyprus. the capital structure of some of these offshore banks...
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Mar 17, 2013
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analysts were worried about the impact of gasoline prices and increase in the payroll tax for us but consumers still spending money. important that makes up about 70% of america's economic growth. if you're looking for something new to buy samsung will be happy to oblige vowing galaxy 4, 5 inch screen, larger battery and a screen you don't have to touch but hover your fingers over. it's the main competition. >>> with markets setting new records every day and federal reserve meeting next week, what could happen next and what should you do with your money. randy kroszner, the former federal reserve governor and former professor at the university of chicago school of business. jim mccaughan. gentlemen, good to have you on the program. thanks for joining us. so much to talk about. jim, every time the dow sets a new high it's a new record. we know corporate america is strong sitting on all this cash. is this telling us the economy is stronger than we think or is this just because the federal reserve has created an environment where there just are very if you alternatives to owning u.s. st
analysts were worried about the impact of gasoline prices and increase in the payroll tax for us but consumers still spending money. important that makes up about 70% of america's economic growth. if you're looking for something new to buy samsung will be happy to oblige vowing galaxy 4, 5 inch screen, larger battery and a screen you don't have to touch but hover your fingers over. it's the main competition. >>> with markets setting new records every day and federal reserve meeting...
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Mar 13, 2013
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i don't see republicans accepting a tax increase. democrats are going to insist on a tax increase. and so we're really not going to get there. i think we'll do it in piecemeal form with continuing resolutions but any big efforts are really just not able to happen. >> it sounds like if that's the case, forget the last couple of months of coverage of these rolling fiscal cliffs. sounds like that's what we're in for from here on out. >> i'm not sure. i agree with tony that essentially republicans gave a tax increase to the president as part of the fiscal cliff deal at the end of the year. $600 billion tax hikes on the wealthiest. they view that as over. they've done their tax increase. they're not going to do another one. democrats absolutely refuse now to do any serious entitlement reforms. i don't think there's an appetite for brinkmanship we saw in the past. both sides want a continuing resolution done that keeps the government open starting at the end of march. we get to debt ceiling during the summertime and republicans won't raise the death ceiling unless we have cuts and democr
i don't see republicans accepting a tax increase. democrats are going to insist on a tax increase. and so we're really not going to get there. i think we'll do it in piecemeal form with continuing resolutions but any big efforts are really just not able to happen. >> it sounds like if that's the case, forget the last couple of months of coverage of these rolling fiscal cliffs. sounds like that's what we're in for from here on out. >> i'm not sure. i agree with tony that essentially...
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Mar 19, 2013
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or no tax. so they may have avoided imposing that 10% tax, but it certainly doesn't shore up any confidence in keeping your money in banks there. bill? >> all right. bertha, thank you very much. >> that's what it's all about. >> that is the key, right there. let's talk about it in today's "closing bell" exchange. steven hammers out there in the ether somewhere. it's randy batsman here next to me and our own rick santelli. rick, we're all getting a civics lesson on cyprus, that little tiny island in the eastern mediterranean. should in this matter with you putting a portfolio together here in the united states? >> oh, absolutely. have you noticed that the european central figures are a bit like the lemmings. every few quarters, they decide to take their launch off the cliff. and this time, i can't imagine who thought this was a good idea. i mean, if you look at cyprus' economy, there are two major factors to that economy. tourism and financial services. you could kill the financial services immed
or no tax. so they may have avoided imposing that 10% tax, but it certainly doesn't shore up any confidence in keeping your money in banks there. bill? >> all right. bertha, thank you very much. >> that's what it's all about. >> that is the key, right there. let's talk about it in today's "closing bell" exchange. steven hammers out there in the ether somewhere. it's randy batsman here next to me and our own rick santelli. rick, we're all getting a civics lesson on...
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Mar 19, 2013
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as part of that, you have to have tax reform and significant tax reform. and actually, simpson/bowles, a commission i served on, laid out a way to do it, got the tax rates down on the personal side to 9, 15 and 23% and the corporate to 26%. and you need to bring the corporate rate down to 24, 25, 26% and need to go to a territorial system. but you can't do that independent of the individual system, because if you have a huge gap between the top individual rate, say today it's at 42.5%, and if you took the corporate 25%, everybody started -- >> because then you have small business. small business got screwed at the expense of big businesses in the last tax bill. so you're right. so i -- look, i say, you're going to have big problems if you try to have a big personal and corporate together. i don't think it's possible. i don't know why you just can't do this. reform the corporate tax code. you can put limits on the deductions or -- i don't care. the president wants to do it. the republicans want to do it. just do it. but one exception. let small businessmen
as part of that, you have to have tax reform and significant tax reform. and actually, simpson/bowles, a commission i served on, laid out a way to do it, got the tax rates down on the personal side to 9, 15 and 23% and the corporate to 26%. and you need to bring the corporate rate down to 24, 25, 26% and need to go to a territorial system. but you can't do that independent of the individual system, because if you have a huge gap between the top individual rate, say today it's at 42.5%, and if...
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Mar 13, 2013
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i didn't like the tax hike. i never like tax hikes. i'm a flat tax guy. wh but what is done is done. let's leave it alone and go to corporate tax reform. you should have heard these ceos. that's what they are talking about. that includes oil put it to you michael steele repatriating a couple million dollars that's sitting overseas. that's where the customers are. when they bring the money back they shouldn't have to pay a penalty. >> incentivize them to bring the money home, baby. >> you buy into that -- >> that flood opens up a whole lot of gates here. >> free investment money. >> i'm in favor of amnesty for those trillions and bringing them home and in favor of immigration reform. authors consistent positions. >> i'm in favor of immigration reform. >> not you but some of my friend on the republican side. >> the right kind of immigration reform. >> amnesty for everyone. >> candice miller you were great to help us out. did he get testy. why did he say to the abc interviewers that maybe there's just too many political gaps to make a deal. do you think he c
i didn't like the tax hike. i never like tax hikes. i'm a flat tax guy. wh but what is done is done. let's leave it alone and go to corporate tax reform. you should have heard these ceos. that's what they are talking about. that includes oil put it to you michael steele repatriating a couple million dollars that's sitting overseas. that's where the customers are. when they bring the money back they shouldn't have to pay a penalty. >> incentivize them to bring the money home, baby....
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Mar 18, 2013
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with the appeal of this tax on deposits, is it, in effect, people who are not merely cyprus tax voters and payers. >> why doesn't russia come and bail them out because essentially russia is just putting money back into its own pocket. the challenge comes again when these voters, voters get in the way. would they pallet giving taxpayer money in russia to them because that's who has the deposits. >> you're assuming a level of democracy in russia that may not exist. seems to me that the putin government could do anything that it wants. >> or half the parliament doesn't have its money in cyprus as well. >> you didn't say politicians. >> we should say that rich russians have been keeping money in cyprus for decades. even during communism. so there's a huge tradition there deep into politics. deep in politicians. that's part of the why. >> why is the u.s. interest and the interest of the imf when it comes to this issue? are they happen p by to so the these guys who have been seeking a tax haven lose money because as you point out they've been going after what happened in switzerland. if the
with the appeal of this tax on deposits, is it, in effect, people who are not merely cyprus tax voters and payers. >> why doesn't russia come and bail them out because essentially russia is just putting money back into its own pocket. the challenge comes again when these voters, voters get in the way. would they pallet giving taxpayer money in russia to them because that's who has the deposits. >> you're assuming a level of democracy in russia that may not exist. seems to me that...
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Mar 18, 2013
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how did one potential bank tax on an island give everybody a market wedgejy? i asked, it's like fill in the blank. here's responses. it's like a 20 buck battery grounding entire 787 fleet. an unpruned tree in ohio taking down the entire northeastern power grid. like a kim kardashian marriage. only lasts a short while and utterly meaningless. bloomberg banning large sodas. sailing a carnival ship and expecting to make it home. like me giving a rip about honey boo boo's next show. >> i love all of those. >> i liked them all till the last one. jane wells has clearly not redneckognized that's a hot show. >> when you have to subtitle white people. >> thank you so much. we'll check out your blog. funny business. thanks for watching "street signs," everybody. >> closing bell. will we end the day higher? "closing bell," the most important hour of the trading day, is next. >>> hi, everybody. happy monday to you. welcome to the "closing bell." i'm maria bartiromo at the new york stock exchange. the market made a comeback despite europe's market. we were positive about 3
how did one potential bank tax on an island give everybody a market wedgejy? i asked, it's like fill in the blank. here's responses. it's like a 20 buck battery grounding entire 787 fleet. an unpruned tree in ohio taking down the entire northeastern power grid. like a kim kardashian marriage. only lasts a short while and utterly meaningless. bloomberg banning large sodas. sailing a carnival ship and expecting to make it home. like me giving a rip about honey boo boo's next show. >> i love...
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Mar 18, 2013
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low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. but we can still help you see your big picture. with the fidelity guided portfolio summary, you choose which accounts to track and use fidelity's analytics to spot trends, gain insights, and figure out what you want to do next. all in one place. i'm meredith stoddard and i helped create the fidelity guided portfolio summary. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. >>> i want to show you what is happening with the markets because as we stand the dow is up by three points. remember at the beginning of trading this morning on all the cyprus fears that was down by 109 points. i'm going to do a shoutout to br
low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. but we can still help you see your big picture. with the fidelity guided portfolio summary, you choose which accounts to track and use fidelity's analytics to spot...
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Mar 20, 2013
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it reduces tax revenues, it reduces productivity. so i think it's very, very important that we act to address unemployment, and i think the federal reserve, i think most people would agree, the federal reserve has been fairly active in that regard. in terms of costs, there are a number of different costs, and i mentioned some of them in my remarks. i think one that has recently been discussed, governor stein brought it up in a speech, is the issue of financial stability. clearly, financial instability, if it were allowed to be sufficiently serious, would be a threat to employment, a threat to jobs, and a threat to production. so, obviously, given the experience of the past few years, we want to be sure that we're not unnecessarily encouraging excessive risk taking or other problems in the financial markets. we do address that through a number of means, including monitoring the financial system, regulation supervision, communication, and the like. but this is a potential concern that a number of my colleagues are worried about, and it
it reduces tax revenues, it reduces productivity. so i think it's very, very important that we act to address unemployment, and i think the federal reserve, i think most people would agree, the federal reserve has been fairly active in that regard. in terms of costs, there are a number of different costs, and i mentioned some of them in my remarks. i think one that has recently been discussed, governor stein brought it up in a speech, is the issue of financial stability. clearly, financial...
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Mar 13, 2013
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low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. melissa: it is time for a little fun with spare change. today we are joined by cara and ashley. thank you both for being here. >> thank you for having us. >> thank you. melissa: and anti-bloomberg law. it does the opposite. it begins restaurants from posting calorie cans and limiting portion sizes. just so happens that mississippi is the most obese state in the country. but shouldn't they be able the what they want? i am confused. >> i feel like they have gone too far with this band. people in mississippi, we are paying for them in our insurance coverage because they have high risks of diabetes. people in mississippi are huge and that is a problem. >> listen, i lived in tennessee, and
low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. melissa: it is time for a little fun with spare change. today we are joined by cara and ashley. thank you both for being here. >> thank you for having us....
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Mar 20, 2013
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around 15,000 and those below 100,000 would go tax free. on top of that, bond holders would have to be bailed in and there's talks that cyprus could sell state assets in banks and gas reserves most likely to russian investors but at this point all of the hopes are being pinned on what's coming out of russia and if all of this fails here's an interesting twist to the story. the archbishop has said that we're happy to give the state all of our resources which would be at least 3 billion euros to help the economy. maybe a little bit of help from heaven. back over to you. >> the archbishop, this is something people should go look up this piece of the story. this is a fascinating piece. he's seen as this spiritual leader there who has been quite vocal. he's been out there talking saying let's get out of the euro and go back to the pound. do we have carolyn? can i briefly ask what it's like on the ground there? we understand that it may be several more days, not just thursday, before people can access their money in cyprus. >> absolutely. initial
around 15,000 and those below 100,000 would go tax free. on top of that, bond holders would have to be bailed in and there's talks that cyprus could sell state assets in banks and gas reserves most likely to russian investors but at this point all of the hopes are being pinned on what's coming out of russia and if all of this fails here's an interesting twist to the story. the archbishop has said that we're happy to give the state all of our resources which would be at least 3 billion euros to...
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Mar 18, 2013
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you're going to tax foreigners instead of taxing your own people. that's one of the rationales for doing this. >> you don't go into that cycle of more austerity and the worst economy, more austerity and worse economy. >> right. >> you can see why they've done it. >> you can. i think the real is why would you go below the insurance threshold? it's such a killer of confidence. why would you risk that and i am told by numerous sources and it's because the president of cyprus didn't want to go above 9.9% originally the same way the dollar store doesn't want to price over 99 cents and he didn't want to tell the foreign depositors that he would take 16% of their money. >> in essence they're taxing the poor in order to keep the offshore on moo. >> to keep their business intact. >> great reporting. we'll come back to you in the show. >> let us bring in charlie and director of research with ariel investments as well as gary thayer, chief macro strategist with wells fargo advisers. gary, first to you. does this change your overall view on the u.s. stock marke
you're going to tax foreigners instead of taxing your own people. that's one of the rationales for doing this. >> you don't go into that cycle of more austerity and the worst economy, more austerity and worse economy. >> right. >> you can see why they've done it. >> you can. i think the real is why would you go below the insurance threshold? it's such a killer of confidence. why would you risk that and i am told by numerous sources and it's because the president of...
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Mar 14, 2013
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low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. >>> welcome >>> welcome back. so, the dow is on track to close at yet another record high. all we need is a positive close there. it's the s&p we're watching there, getting ever-closer to its own all-time high. we are about four points away. bob pisani, how are changes looking in this rally right now? >> i think the amazing thing, and you're going to talk to jeff sprecher, maria, in a couple of minutes. i want to point out the exchanges are all hitting new highs today. the volume has been light. i.c.e., new high. i think people are starting to understand the synergies there. cboe, that's a new high. they locked up the s&p options contract for at 14 years. they just announced that. that
low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. >>> welcome >>> welcome back. so, the dow is on track to close at yet another record high. all we need is a positive close there. it's the s&p...
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Mar 21, 2013
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they are insulted, some of them, at the prospect of taxing any deposits whatsoever. they don't want even the wealthy depositors to be taxed because they see it as an attack on their system here, their business model for the country, which contributes 50% of the gdp. they know there are going to be job losses widespread because they're shrinking the banking sector on purpose. that's really going to hurt here. >> michelle, thank you very much. we'll see you again. great reporting. >>> the trillion-dollar question, folks, is this. is cyprus a potential black swan with huge unforeseen consequences, or just a little island sideshow with no impact on your money? let's ask cio at bmo private bank and steve oth at federated investors. jack, how important is cyprus? >> it is important, brian. this is really the first test of eurozone financial system will. it's finally come down to an insolvency. and the fact that they were willing to impose taxes on deposits really sent shock waves not through -- not just through cyprus and through the eurozone but really through the world.
they are insulted, some of them, at the prospect of taxing any deposits whatsoever. they don't want even the wealthy depositors to be taxed because they see it as an attack on their system here, their business model for the country, which contributes 50% of the gdp. they know there are going to be job losses widespread because they're shrinking the banking sector on purpose. that's really going to hurt here. >> michelle, thank you very much. we'll see you again. great reporting....
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Mar 19, 2013
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series, tax pain. we'll be right back. [ male announcer ] how can power conmption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections oa complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. twe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. you are gonna need a wingman. and my cash back keeps the party going. but my airline miles take it worldwide. [ male announcer ] it shouldn't be this hard. with creditcards.com, it's easy to search hundreds of cards and apply online. creditcards.com. cheryl: we're coming up on 15 past the hour. stocks every 15 minutes. we have fox business team coverage for you. bill flynn is standing by the trading pits. sandra is at the daily wizard and charles payne showing us h
series, tax pain. we'll be right back. [ male announcer ] how can power conmption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections oa complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. twe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses...
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Mar 19, 2013
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are you surprised at all that parliament rejected this depositor tax? >> not at all. i mean, when you -- >> it's crazy. >> it's more than that. i think there's something more being done here and said. not necessarily verbally, but if you look at, it started friday. effectively, the banks have been closed for five days. the chaos that that will cause to the cyprus economy, if it were in this country, alone, would be dramatic. >> how do you propose cyprus gets bailed out? >> well, i think, historically, in the bailout situations, all the other countries have been bailed out appropriately, meaning that the bailouts come from the european markets. here, unprecedented and contrary to the insurance laws, and the rule of law concept, they are taking the money from the depositors. what faith will they have now, aside from cyprus, what are the other member states and their deposits have to say? remember, the concept of the eu was to have a unified national union of sorts. in this country, if we had one state or one bank going under, we wouldn't expect all the depositors throug
are you surprised at all that parliament rejected this depositor tax? >> not at all. i mean, when you -- >> it's crazy. >> it's more than that. i think there's something more being done here and said. not necessarily verbally, but if you look at, it started friday. effectively, the banks have been closed for five days. the chaos that that will cause to the cyprus economy, if it were in this country, alone, would be dramatic. >> how do you propose cyprus gets bailed out?...
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Mar 20, 2013
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in fact, you heard about plan a which was to tax deposits. now we have heard that plan b has been rejected by the troika as well. cyprus government said to the troika, their european partners who they want them to lend money to, they said to them, listen, instead of taxing deposits why don't we do this instead. we have a pension fund, we'll raid it, take the cash, turn it into bond and we'll pay it back over time. the troika said that doesn't do anything for you. you still have liabilities. then they said we're also going it try to sell one of the bad banks. and the fact of the matter is if the bad bank were sellable, people like chris flowers and wilbur ross and tim collins would have been here a long time trying to buy it. they said maybe we'll split it up, divide it into the good bank and bad bank. we'll sell the good bank to the russians and the troika said selling the good bank is the easy part. what are you going to do with the bad bank? none of that is going to work. you will hear more about what the hopes are for russia from steve in
in fact, you heard about plan a which was to tax deposits. now we have heard that plan b has been rejected by the troika as well. cyprus government said to the troika, their european partners who they want them to lend money to, they said to them, listen, instead of taxing deposits why don't we do this instead. we have a pension fund, we'll raid it, take the cash, turn it into bond and we'll pay it back over time. the troika said that doesn't do anything for you. you still have liabilities....
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Mar 13, 2013
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the economy is doing better despite payroll tax increases. and importantly, the leading indicators, whether we're talking about confidence, new orders, those things are also improving. so i don't think it's all baked in. >> what gets the rotation of any magnitude from bonds into stocks, which really could accelerate things? >> capital losses on your bonds. you know, right now at bessemer, we have a maximum underweight to government debt. so we're as low as we'd go based on our strategic guidelines. but i think when you get those pension funds, those institutional investors, and even some retail investors actually saying, gosh, for the last 25 years, bonds have been a great place to be, they're not anymore. that's when i think we see that moving. i don't know if we're there yet. >> if you put money into equities, where do you want to be? >> we're trimming some of our high-yield exposure now. we started doing that in january. we're taking an additional step right now and adding further to our equity exposure. we're focusing on large-cap stocks.
the economy is doing better despite payroll tax increases. and importantly, the leading indicators, whether we're talking about confidence, new orders, those things are also improving. so i don't think it's all baked in. >> what gets the rotation of any magnitude from bonds into stocks, which really could accelerate things? >> capital losses on your bonds. you know, right now at bessemer, we have a maximum underweight to government debt. so we're as low as we'd go based on our...
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Mar 20, 2013
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low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. >>> welcome >>> welcome back to "squawk box." the futures right now are moving around a little. up about 87 points, which would get back some of the problems we had on monday and tuesday. is today wednesday? >> today is wednesday. first day of spring. >> 7:02, awesome. winter went fast. >> didn't it? >> we have the music too. >> we do. >> the weather -- the winter weather's not over yet. sorry to say. >> you heard what i told you. >> yeah. >> you think it's global warming. >> global warming. >> because it's cold. it must be global warming. >> real estate company just out -- >> going against the religion, get in trouble with who? the "new york times." go ahead. >> just out with the wint
low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. >>> welcome >>> welcome back to "squawk box." the futures right now are moving around a little. up about 87 points, which would get back...
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Mar 21, 2013
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. ♪ hallelujah >> washington raised income taxes on the wealthy. >> boo! >> took the top marginal rate to the astounding 75% and instituted a 2% payroll tax for social security. their goal? they wanted to start trying to balance the budget because the president and treasury secretary were worried about the long term deficit? does that sound familiar? at the exact same time, the fed tightened rates, doing what all the bears say bernanke should do, betting that inflation could rage and rage easily if the fed stayed easy, which is what his critics are saying he should do right now. but when we went down this road in 1937 it sent the economy into an amazing tail spin. causing a recession within a depression. it was an economic calamity that was totally avoidable if the people in power made different, smarter choices. especially the federal reserve. ben bernanke does not want history to repeat itself. he's not going down the path of what the fed did in 1937. he's not stupid. even though that's exactly the path unfortunately that the president and congress are t
. ♪ hallelujah >> washington raised income taxes on the wealthy. >> boo! >> took the top marginal rate to the astounding 75% and instituted a 2% payroll tax for social security. their goal? they wanted to start trying to balance the budget because the president and treasury secretary were worried about the long term deficit? does that sound familiar? at the exact same time, the fed tightened rates, doing what all the bears say bernanke should do, betting that inflation could...
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Mar 21, 2013
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the president, congress, they decided to raise taxes on the wealthy, put through a payroll tax increase, entitlements. we've got two out of three going. we had the president and congress raising taxes on the wealthy. i don't think bernanke wants to be the fed of 1937 because the recession came back aggressively and it was only world war ii that made the hiring come back. he doesn't want to be the guy -- he'd rather be second-guessed by all the bears who come on and say he's got to tighten because my short positions aren't making any money. he's not responding to the people who are short. he's actually responding to the american people. old-fashioned kind of guy. >> in terms of the reaction in the markets after the ben bernanke news conference, was that surprising at all that, for whatever reason, for whatever he said, the markets managed to rise and actually reached the highs of the day afterwards? >> i think there were a lot of people who expected that he would put in some language that just says, we're not going to keep rates low indefinitely because we see real estate, affordability
the president, congress, they decided to raise taxes on the wealthy, put through a payroll tax increase, entitlements. we've got two out of three going. we had the president and congress raising taxes on the wealthy. i don't think bernanke wants to be the fed of 1937 because the recession came back aggressively and it was only world war ii that made the hiring come back. he doesn't want to be the guy -- he'd rather be second-guessed by all the bears who come on and say he's got to tighten...
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Mar 19, 2013
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when i asked stewart what was he thinking about cyprus and the atm bank lines and the tax scheme where they essentially bang the depositors for money. they violated the sacrosanct compact, i told him, that was meant to protect those deposits. stewart's all about common sense. he didn't think all of that much about the cyprus story. more importantly, he was hoping we wouldn't make too of it on this show because it would blow over since cyprus was a special case that couldn't easily be extrapolated and maybe even rally a little. then i went home after having some breakfast and i set out to study the charts and more on this later and settled in for serious ncaa bracketology while watching the canes play the tar heels. i tried to stay focused on march madness but i began to get bombarded by emails from bears worldwide -- [ shots fired ] brown bears, kodiaks, even koalas, telling me, this is it, jim, this is the big kahuna that i was being way too glib about the confiscation scheme that would rock my world. i knew not to dismiss the darn cyprus situation. i actually bothered to argue back,
when i asked stewart what was he thinking about cyprus and the atm bank lines and the tax scheme where they essentially bang the depositors for money. they violated the sacrosanct compact, i told him, that was meant to protect those deposits. stewart's all about common sense. he didn't think all of that much about the cyprus story. more importantly, he was hoping we wouldn't make too of it on this show because it would blow over since cyprus was a special case that couldn't easily be...
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Mar 21, 2013
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closer to that $5.8 billion that troika wants them to come up, when they originally, why don't you tax depositors. this reduces that. secondly, it also protects everybody under 100,000 euros. everybody in both banks stays protected underneath the insurance threshold. now, who's going to end up getting taxed, levied, taking a haircut, anybody who's got over 100,000 euros in the account. they're going to probably suffer on-paper losses of 30 to 40%, maybe 50%. for that, they'll be given stakes in a new bank, in the new bank that will hopefully over time give them money or the wind-down of the assets of the old bank, the bad bank will pay them off over time. that's the situation. the employees are angry because they're worried they're going to lose their jobs. it's quite possible, because once you have two banks come together, what do you do? you get rid of branches, you have synergies in employment as the institution merges the together. the employees here are very, very angry about what they've heard. >> it's not the family. it's germany and other countries. they are not our friends. >>
closer to that $5.8 billion that troika wants them to come up, when they originally, why don't you tax depositors. this reduces that. secondly, it also protects everybody under 100,000 euros. everybody in both banks stays protected underneath the insurance threshold. now, who's going to end up getting taxed, levied, taking a haircut, anybody who's got over 100,000 euros in the account. they're going to probably suffer on-paper losses of 30 to 40%, maybe 50%. for that, they'll be given stakes in...
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Mar 20, 2013
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not the taxes. no corporate or individual income taxes and a franchise tax that tops out at 1%. the great state of texas is definitely attractive. >> building a business is tough, but i hear building a business in california is next to impossible. see why you should come to texas. cheryl: joining me now is former aide to texas governor, craig casselberry. if the governor's message, is it being effective in texas? >> you know, i think it is. we know our formula here has been for many years. i have been around a long time in this state. i think companies, their employees, families, they like that message. it is working. that is why we lead the company and job creation for the last few years. cheryl: many california companies have left the state of california and got down to texas because the costs of doing business is so much lower. you have that corporate tax, you know, that nugget that really brings people in. if you look at the debt station in each state, california does not control its debt. what is texas doing that california needs to do? >> we have a balanced budget amendmen
not the taxes. no corporate or individual income taxes and a franchise tax that tops out at 1%. the great state of texas is definitely attractive. >> building a business is tough, but i hear building a business in california is next to impossible. see why you should come to texas. cheryl: joining me now is former aide to texas governor, craig casselberry. if the governor's message, is it being effective in texas? >> you know, i think it is. we know our formula here has been for many...
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Mar 18, 2013
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cyprus tax bringing down u.s. markets is like? it's like a kim kardashian marriage, only lasted a short while and utterly meaningless. another said like a 20-buck battery grounding a 787 fleet. i'm glad these aren't coming up. and finally, it's like listening to mila kunis for stock picks. >> we do. >> leave that poor woman alone. >> now, tim, since you're long mila -- >> you've got to be -- wouldn't you be long the markets because of mila's comments? >> no. i wasn't listening to that news. but i like the way she articulated her point. and if she wants to understand more about it she should come down to "fast" in the studio and we'll talk more about it. >> wa, wa. >> jane-g to see you. before the break check lululemon. watching the shares tumbling. cutting its first quarter sales guidance. it's a developing story. and of course we'll bring in more of the trade and more of the news as we have it. but again, as you see there, a hard fall for lulu in the after hours session. >> looks like a downward dog, huh? no? are we still on air?
cyprus tax bringing down u.s. markets is like? it's like a kim kardashian marriage, only lasted a short while and utterly meaningless. another said like a 20-buck battery grounding a 787 fleet. i'm glad these aren't coming up. and finally, it's like listening to mila kunis for stock picks. >> we do. >> leave that poor woman alone. >> now, tim, since you're long mila -- >> you've got to be -- wouldn't you be long the markets because of mila's comments? >> no. i...